Research finds spam trail leading to Chinese banks

A research carried out by a an assistant professor at New York University looked into the economic system behind spam related to the sell of fake luxury goods. Along with fake pharmaceuticals, fake luxury goods stand as one of the primary drivers of spam; these fake goods are sold using spam in the form of e-mails and social network posts. The research showed that three major Chinese banks handle a significant fraction of the fake luxury goods purchases. According to the MIT Technology Review, all three banks have already faced lawsuits from luxury brands and anti-counterfeiting organisations accusing them of facilitating the counterfeit trade.